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Power Matters

In our first blog in this series, we looked at the history
of automotive power, gas, diesel, and electric, so now it's time to get to the
heart of the matter-- which is the best option for you.

If only it were that easy.

The primary concern for most when purchasing an electric
vehicle is the cost. While the investment in an electric-powered vehicle is
important, the primary factor should be how the vehicle will be used. For city driving in an area with ample
charging stations, perhaps a dedicated spot in the office parking lot, an
electric vehicle (EV) can seem like a wise choice initially. The average range
of an electric vehicle on a single charge is safely 60 miles and, depending on
the vehicle, up to 100 miles. Most EVs receive 20% of their full charge in
about 2 hours making it possible for commutes with a charging station at both
ends of the drive to make a 100-mile round trip comfortably. If the vehicle is
going to need to be driven more than 50 miles round trip with no charger, traditional vehicles fueled by gasoline or
diesel may be the best initial decision, or perhaps a hybrid.

If an EV remains a strong possibility, cost becomes the next
factor. The Internal Revenue Service is
offering a great incentive of $7,500 tax credit for first-owners of EVs
purchased after 2009 and $2,500 on hybrids! It is easy to think that you will
invest in an EV, plug it in at home at night, be ready to go the next day, and
collect your associated credit when filing your taxes next year, but like we
said, it’s not that easy. First you need to consider the charger; level one EV
charging stations, the ones provided by vehicle manufacturers, plug in to
traditional 110-volt outlets and fully charge a vehicle overnight. If you
require faster charging, a level two charger providing 240-volt charging comes
at an additional cost not only to purchase the charger, but also for additional
hardware, permits, and other requirements for installing the recommended
independent circuit for the charger. We recommend consulting a qualified
electrician about these costs.

The electricity needed to power an EV is the second cost
factor to consider. Current gas-engine
vehicle drivers understand the fluctuation of gasoline prices but not the
fluctuation of electricity which varies more widely than gasoline. As EV use
becomes more widely available, it is likely that utility companies will follow
the lead of California utility companies who have introduced a tiered pricing
system that bases usage costs on the amount of energy used as well as the time
it is used; charging your EV during off-peak hours, between midnight and 7 am,
can mean smaller utility bills, but consider that you might need to charge up
midday meaning a heftier price. Contact your local utility provider to ask
about options for charging your future EV.

As with any vehicle, there are maintenance costs to
consider. While an EV requires less maintenance than a gas-powered vehicle, the
cost of battery replacement needs to be included in the cost of driving an EV
along with the typical brakes, tires, and mechanical necessities.

If you think an electric vehicle might be a good option for
you, do your research based on your personal goals for vehicle ownership. It is
important to do your homework to find out typical costs such as depreciation
and resale value when making a vehicle purchase; when deciding to purchase an
electric vehicle, you must also consider the cost of charging the vehicle as
opposed to fueling it with gasoline, any associated costs such as increased
utility rates, contractors, and equipment, and the ability to charge as often
as needed for your commute. We are happy to help you with your research if you
think an electric vehicle might be right for you.